XML 15 R4.htm IDEA: XBRL DOCUMENT v3.25.2
Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Interest and Dividend Income        
Interest and fees on loans and loans held for sale $ 40,519 $ 32,367 $ 77,989 $ 62,817
Interest on investment securities available for sale 3,026 3,556 5,978 7,274
Dividends on marketable equity securities 146 227 291 470
Interest on investment securities held to maturity 473 470 946 952
Dividends on Federal Home Loan Bank stock 120 57 225 134
Interest on deposits in other banks 515 232 931 1,070
Total Interest and Dividend Income 44,799 36,909 86,360 72,717
Interest Expense        
Interest expense on deposits 10,304 9,476 20,239 18,656
Interest expense on borrowings 809 287 1,047 373
Interest expense on junior subordinated debentures 94 93 185 188
Total Interest Expense 11,207 9,856 21,471 19,217
Net Interest Income 33,592 27,053 64,889 53,500
Provision (benefit) for credit losses 1,976 (120) 567 29
Net Interest Income After Provision for Credit Losses 31,616 27,173 64,322 53,471
Other Operating Income        
Mortgage banking income 7,400 5,884 11,651 9,915
Purchased receivable income 5,897 1,242 12,047 2,587
Unrealized gain (loss) on marketable equity securities 78 (60) 28 254
Other income 1,386 834 2,324 1,522
Total Other Operating Income 16,640 9,577 29,680 17,421
Other Operating Expense        
Salaries and other personnel expense 20,854 16,627 38,077 32,044
Data processing expense 3,366 2,601 6,470 5,260
Occupancy expense 2,104 1,843 3,993 3,805
Professional and outside services 1,113 726 2,228 1,481
Marketing expense 1,042 690 1,714 1,203
Insurance expense 756 692 1,773 1,471
Compensation expense - Sallyport acquisition payments 600 0 1,200 0
OREO expense, net rental income and gains on sale 2 2 5 (389)
Other expense 2,651 2,013 5,199 3,957
Total Other Operating Expense 32,488 25,194 60,659 48,832
Income Before Provision for Income Taxes 15,768 11,556 33,343 22,060
Provision for income taxes 3,990 2,536 8,241 4,841
Net Income $ 11,778 $ 9,020 $ 25,102 $ 17,219
Earnings Per Share, Basic (in USD per share) $ 2.13 $ 1.64 $ 4.54 $ 3.13
Earnings Per Share, Diluted (in USD per share) $ 2.09 $ 1.62 $ 4.47 $ 3.10
Weighted Average Common Shares Outstanding, Basic (in shares) 5,521,811 5,500,588 5,520,905 5,500,083
Weighted Average Common Shares Outstanding, Diluted (in shares) 5,611,558 5,558,580 5,611,734 5,562,025
Bankcard fees        
Other Operating Income        
Bankcard fees and Service charges on deposit accounts $ 1,153 $ 1,105 $ 2,227 $ 2,022
Service charges on deposit accounts        
Other Operating Income        
Bankcard fees and Service charges on deposit accounts $ 726 $ 572 $ 1,403 $ 1,121